Lagos - The First Inland Bank will today start the sale of its N100 billion hybrid offer to be used to enhance the bank’s growth strategy. The offer is expected to last till the end of January 2008.

The bank is offering to the general public 5,000,000,000 ordinary shares of 50 kobo each at N9.50 per share, 4,000,000,000 irredeemable non-cumulative preference shares of 50 kobo each at N9.50 and rights issue of 968,863,000 ordinary shares of 50 kobo each at N8.50 per share.

The offer closes - bearing any unforseen circumstances - on Thursday, January 31, 2008, and is being sold at discounted price of N3.80 (for rights issue) and N4.80 (for public offer) per share. As at the last time of trading before the Nigerian Stock Exchange(NSE), pulled the share from the market, the stock was trading at N13.30 per share.

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